11.06.2008

Bank Raises A New USD 100 Mln Syndicated Loan

Bank Saint Petersburg has entered into the USD 100 million syndicated loan agreement. The European Bank for Reconstruction and Development acts as a lender of record in the transaction.

The EBRD will grant a $25 million A Loan tranche for four years. A $75 million B Loan tranche will be granted by 14 foreign international banks for 18 months with the extension option. The B Loan margin is 2.75 percent over six-month LIBOR. BayernLB, Banif Investment Bank, Commerzbank Aktiengesellshaft, FBN Bank (UK) Ltd and Raiffeisen Zentralbank Osterreich Aktiengesellshaft act as the B Loan lead arrangers.

The proceeds will be used to finance the Bank’s corporate clients and individuals as well as lending to small businesses.